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Old 05-14-2012, 09:56 AM   #41
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.....My initial thought (and possibly Ed's) is that this guy is possibly trolling. However, I haven't seen any signs to indicate this so I am probably wrong on this point.....
You may be right. Or it might be someone who has been focused on career and less on personal finances, has achieved success and is now looking ahead and trying to learn and address personal finances.

If he is a troll, what could he possibly be trolling for? Good advice?
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Old 05-14-2012, 10:01 AM   #42
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Unfortunately, the moderators reguarly rain on my parade so I doubt my recommendation will speed your "promotion" up the forum heirarchy.
But...but...you're such a supportive, positive, upbeat poster! I can't imagine why the mods would do such a thing.
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Old 05-14-2012, 10:04 AM   #43
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Originally Posted by pb4uski View Post
You may be right. Or it might be someone who has been focused on career and less on personal finances, has achieved success and is now looking ahead and trying to learn and address personal finances.

If he is a troll, what could he possibly be trolling for? Good advice?
If "single" I would have been more convinced he was trolling. "Rich guy in Seattle unattached" may have been intended as a lure. The other option would be the great "investment" he has made where he can make $500K/yr. In any case, nothing like that has arisen so my original suspicions do not appear correct.

This guy is no dummy. He needs to focus on the recommended reading list and educate himself. He's in a fabulous financial position; but like all of us, he can really screw things up if he goes off half-cocked.
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Old 05-14-2012, 10:46 AM   #44
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Yes grasshopper, you get it. Even with your low number of posts, you qualify as a forum expert. Unfortunately, the moderators reguarly rain on my parade so I doubt my recommendation will speed your "promotion" up the forum heirarchy.
Hey leave me out of this
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Old 05-14-2012, 10:48 AM   #45
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Perhaps you should change your screen name to Grasshopper (upper case "G") to avoid confucius around here.
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Old 05-14-2012, 11:15 AM   #46
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Umm, you forgot about the other few million that were NOT annuitized and grew larger in the interim due to the annuity cashflow paying most of the bills...
Then why subject the annuitized $1M to guaranteed declining purchasing power when it could snuggle up to the other millions and participate in that same growth?
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Old 05-14-2012, 11:51 AM   #47
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Then why subject the annuitized $1M to guaranteed declining purchasing power when it could snuggle up to the other millions and participate in that same growth?
The topics we never achieve "consensus" include:
  • SPIA to be or not to be?
  • LTC Insurance will really be there
  • "perfect" asset allocation
  • reduced spending as we age (Bernicke)
  • others?
I think this thread has wandered off to oblivion. Can someone bring up Nazis or make a political comment?
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Old 05-14-2012, 12:16 PM   #48
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The topics we never achieve "consensus" include:
  • SPIA to be or not to be?
  • LTC Insurance will really be there
  • "perfect" asset allocation
  • reduced spending as we age (Bernicke)
  • others?
How dare you leave out paying off the mtg early....
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Old 05-14-2012, 12:21 PM   #49
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How dare you leave out paying off the mtg early....
No mortgage here for over a decade. And yet I still read and even occasionally participate in threads about paying off the mortgage.
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Old 05-14-2012, 05:45 PM   #50
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Well, I say the toilet paper goes over, not under.
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Old 05-14-2012, 09:15 PM   #51
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I was definitely being snarky. I find it amazing someone making $500K is as clueless as portrayed in their post. This is also significantly outside our typical "Hi, I am..." type posts. My initial thought (and possibly Ed's) is that this guy is possibly trolling. However, I haven't seen any signs to indicate this so I am probably wrong on this point.

If a true post, the OP needs to get a solid handle on his lifestyle costs and learn about asset allocation. He may actually be one of the few people I would actually recommend that they should see a fee only financial adviser. Before he does this, he needs to read William Bernstein's The Investor's Manifesto and understand where his expenses are. If he truly can't see how he can get by on "only" $240K/yr, he definitely needs to work until he dies.
If you are talking about me, then I take that as insulting. Just because somebody is good at a particular job that is very financial rewarding doesnt mean they are great at actually managing money. Needless to say, my career is all consuming and havent left me with alot of time to focus on money...and quite honestly, ER hasnt come up as a subject for me until recently when I realized I cant do this for 20 more years and would be happy just hanging it up and calling it a career.

And also, probably wouldnt have any experience with ER so that is why they come on this board to ask questions. I know tons of executives that are making very large salaries but actually are terrible at managing money...

And to clarify, I am not trolling. I am asking very general ER questions and I thought there might be a few executives on this board that have had similiar experience to mine and could provide some color.

In closing, I actually know exactly what my living expenses are and have done some pre-planning with the calculators and with Vanguard support and I actually need around $120K a year in my expense model but I still wanted to ask general questions to people with real world ER experience to get a 2nd opinion.

I wasnt trying to cause any issues and I am sorry if I wasted your time. But I will tell you, you come off rude and judgemental.

Thanks to everybody else that has replied with data, it is very much appreciated and your feedback was spot on and helped me. Thank you.

Seattle
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Old 05-14-2012, 10:28 PM   #52
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it is a reality that many very successful managers and professionals accumulate money but don't have the time to manage that resource. Many posters on this forum needed to master retirement savings management because they must, their margin for error is small.

Snarkyness is rude.

I understand Seattle's concerns. One of the reasons why we encourage you to manage your own savings is to avoid being in the situation of one of my friends, hand it off to the likes of Madoff to manage. We all sometimes regret an investment or two but no one will steal it all.

Written on my IPad w/o spellcheck...
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Old 05-14-2012, 10:48 PM   #53
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+1 Good natured snarkiness is one thing, but some of the posts in this thread and the "I'm 46 and would like to retire in 2013" thread cross the line IMO and are rude, insulting and malicious.

It's sad that a couple jerks ruin the camaraderie here.
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Old 05-14-2012, 10:56 PM   #54
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Welcome to the boards, Seattle. You're smart to figure out what you can do now to assure the retirement income you're hoping to achieve, and many people here have been very helpful to those of us who were clueless.

Lots of people in well-paid jobs say they can't afford to retire or end up retired into reduced financial circumstances--those outcomes certainly are not limited to people who make a fraction of your income.
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Old 05-14-2012, 11:14 PM   #55
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Well, I say the toilet paper goes over, not under.
True in the northern hemisphere, but under in the southern hemisphere.
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Old 05-14-2012, 11:38 PM   #56
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+1 Good natured snarkiness is one thing, but some of the posts in this thread and the "I'm 46 and would like to retire in 2013" thread cross the line IMO and are rude, insulting and malicious.

It's sad that a couple jerks ruin the camaraderie here.
I agree. I've been reading this site for a few months now and mostly see helpful advice and good natured comments. Don't know some questions trigger such responses. Jealousy?

I can understand how someone can be making good money but are too busy to figure out how to invest it, never mind turn from saving to withdrawal. The methods for safely withdrawing your investments is much more complicated than I would have thought when I started researching it, especially when you factor in SS.

If I were in the OP's shoes I would be reading all I could about investing (the Bogleheads have a very good reading list), and then pulling the cord as soon as possible. It's not like there aren't ways to make a few bob doing something less stressful to supplement income - he's still very young.
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Old 05-15-2012, 02:16 AM   #57
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There are some very helpful people on this board. We are very blessed to have this community as we work through a very stressful and confusing time. I think nothing replaces experience and it is one thing to read a book, it is something else to talk to the guy who wrote it. I dont take this board for granted.

Are some of these responses jealousy? Perhaps. But I dont make any apologies for anything. I worked my butt off to get where I am at. I put myself through school, worked a full time job and went to school full time. I slogged countless hours and did all the crap jobs to get ahead. I took time away from my family and my friends and even myself and with alot of luck I was able to be rewarded for my hardwork - the American dream.

That is not to say that others didnt work equally or even harder then I did in tougher environments - just wasnt rewarded the same way. I wish that was different for everybody...

And some may say "wow, $5M, you have a problem living on that?" and I could agree with them. That is a ridiculous sum of money and anybody should be able to deal with it. I get that. But there things out there that need to be avoided (ie. Madoff scams, too high a withdrawl rate, medical catastrophy etc.) and you all have the wisdom that can help me navigate it. But also realize, there is a psychological issue to deal with as well in ER for somebody at the executive level that I am just starting to realize.

I have to be mentally prepared as well to go from literally a high net worth lifestyle to a more reserved lifestyle. But like all of you, I see that time is the most precious thing we have and I dont mind stream lining the trappings to just live life and not run so hard that I wake up some day and wonder what ever happened to my life.

I am literally writing this as I sit in another hotel room in China, slogging through another 15 hour day away from family and friends and know that I may just have to even accelerate my decision and not wait a year or two to pull the rip cord.

But again, thanks to all, your insight and your wisdom is very much appreciated. I still have one question about healthcare and how to best deal with that. But I think I will start another thread about that in the appropriate forum


Seattle
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Old 05-15-2012, 08:33 AM   #58
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I am asking very general ER questions and I thought there might be a few executives on this board that have had similiar experience to mine and could provide some color. There are all kinds here, including some with net worth in your range. Like the Community Rules say "People who are professionals in a variety of fields post on this forum and share their general knowledge. Many of them are brilliant. Some are doofi." I try to remember this as it's true here as everywhere.

I wasnt trying to cause any issues and I am sorry if I wasted your time. But I will tell you, you come off rude and judgemental. Wise to be a little humble and contrite as a newbie, but you have no reason to apologize. We have a member here who has insulted members on several threads recently. He/she says the Mods have reprimanded him/her, I hope they continue to do so. Mark Twain might be helpful here, "Never argue with a fool; onlookers may not be able to tell the difference." Another thought I try to keep in mind, though it's hard to resist at times.

Thanks to everybody else that has replied with data, it is very much appreciated and your feedback was spot on and helped me. Thank you. It's a good group overall, they've helped many people come to grips with FI and ER.

Seattle
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Old 05-15-2012, 09:20 AM   #59
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My 2 cents...
Hey, I like that Mark Twain quote!
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Old 05-15-2012, 01:21 PM   #60
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I am literally writing this as I sit in another hotel room in China, slogging through another 15 hour day away from family and friends and know that I may just have to even accelerate my decision and not wait a year or two to pull the rip cord.
I often visit this community to read or lurk. I don't post as much since there're much more knowledgeable members than me. Sadly, some are rude or too snarky, but other members try to block their attacks. It's a nice community overall nevertheless. Don't give up on it.

As far as your plans to retire next year (probably), I think it's very doable, but first a few questions/suggestions:

- Like someone already advised, talk to a Vanguard rep to get your investment plan analyzed. You could learn a lot, plus it's free;
- Does your projected $120k/yr expense include healthcare premiums?
- You say nothing about your spouse. Is the $120k for both of you or does she w*rk too? If so, what does she plan to retire?
- Since you wish to teach and if it's paid, that would cover your health insurance premiums, IMO.
- If you're planning to retire next year, you definitely must get your 'money house' in order before jumping out the rat race. IMHO, you should evaluate your risk tolerance before saying "I want 5% after-tax return" and how it affects your AA.
(I have other thoughts, but they could be redundant especially since others have shared their thoughts about your situation).
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